Egypt’s Suez Canal extends rebates for LNG tankers

Egypt’s Suez Canal Authority said it has extended rebates on canal tolls for liquefied natural gas (LNG) carriers.

SCA extended the rebates from July 1 until December 31, 2022, it said in a circular dated June 12 and published on its website.

This means that LNG carriers operating between the American Gulf, starting from Miami port, and the Arabian Gulf, ports west of India and at Kochi, will receive a rebate of 30 percent on the canal’s normal tolls.

In addition, LNG tankers operating from ports east of Kochi to Singapore will receive a rebate of 55 percent, and from Singapore ports east will receive a rebate of 70 percent, the authority said.

Besides LNG vessels, the authority also extended rebates for liquefied petroleum gas (LPG) carriers.

SCA said earlier this year it had achieved record high revenues of $629 million with 1,929 ships passing through the canal in April.

Oil tanker traffic rose 25.8 percent and LNG tanker traffic increased 12 percent year-on-year in April, mostly due to the Russia-Ukraine war.

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